The last two weeks of November brought us a familiar seasonal slowdown but this year, the slowdown is layered on top of a broader softening trend already underway in the Las Vegas real estate market.
Here’s what we saw for the weeks ending November 23rd and November 30th, 2025:
Week of November 23rd:
- 676 new listings
- 445 under contract
- 484 sold
- 49 days on market
- Median price: $490,000
Week of November 30th:
- 455 new listings
- 412 under contract
- 439 sold
- 51 days on market
- Median price: $490,000
While the valley-wide median price remained steady at $490,000, it’s important to recognize that median price doesn’t always reveal what’s happening within the market. Demand has been gradually softening fewer buyers are writing offers, urgency has decreased, and negotiation leverage has expanded as sellers adjust expectations. Inventory continues to trickle upward, adding gentle pressure on pricing.
And although holiday weeks always skew the numbers, we’ve seen slowing patterns emerging long before Thanksgiving.
Low and slow numbers do not automatically equal market strength; instead, they signal a cooling environment where buyers are more selective and sellers need to be more strategic.
It’s also crucial to remember that these figures represent Las Vegas as a whole. Micro-markets often behave very differently. A neighborhood in Henderson may feel stable, while a community in the northwest may feel sluggish. A price point under $450K may still move quickly, while higher-end homes experience longer market times.
This is why personalized data matters far more than weekly snapshots. Your neighborhood, your price point, and your home’s specific features may tell a very different story than the overall valley statistics.
As we head into the final month of the year, expect the pace to remain slow but also expect more clarity as we move into the early-month cycle of 2026.
If you’d like a customized breakdown of your specific area or are curious how this softening trend impacts your buying or selling plans, I’m always here to help.
